Full LightSquared Org Chart

Tyler Durden's picture


Good news: it is not the Enron (wall of pain) org chart. Bad news: it is the SkyTerra, pardon, LightSquared one. Bad for Falcone that is and its various unsecured creditors. Good for Milbank Tweed which has just started billing hundreds of attorneys to the estate at about $500/hour on average. Expect many, many more bankruptcy professionals to get involved shortly in this fee bonanza in a desert of recent restructuring assignments. Time for Centerview to shine.

And the full bankruptcy declaration by Marc Montagner, CFO of the now defaulted company


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Mon, 05/14/2012 - 14:43 | 2424515 Madcow
Madcow's picture

I hope the lawyers will take an IOU

Mon, 05/14/2012 - 15:59 | 2424749 AldousHuxley
AldousHuxley's picture

On February 14, 2012, the U.S. Federal Communications Commission (FCC) moved to bar LightSquared's planned national broadband network after being informed by the National Telecommunications and Information Administration (NTIA), "the federal agency that coordinates spectrum uses for the military and other federal government entities," that "there is no practical way to mitigate potential interference at this time."


translation: not enough bribes for military chiefs; don't fukc with military



Mon, 05/14/2012 - 14:46 | 2424519 slackrabbit
slackrabbit's picture

Krugman says this is bullish

Mon, 05/14/2012 - 14:55 | 2424543 Brother Revegen...
Brother Revegend Magoun's picture


Mon, 05/14/2012 - 14:50 | 2424524 navy62802
navy62802's picture

That's an easy one ... just make Falcone dig into his personal fortune to pay off the company's debts. Seems like an easy enough thing to do.

Mon, 05/14/2012 - 14:51 | 2424534 carbonmutant
carbonmutant's picture

I think Bernanke's phone is ringing...

Mon, 05/14/2012 - 14:53 | 2424537 redpill
redpill's picture

Phail Falcone on sui watch

Mon, 05/14/2012 - 14:57 | 2424541 KandiRaverHipster
KandiRaverHipster's picture

they were railroaded by the big ISPs

Mon, 05/14/2012 - 14:57 | 2424545 blunderdog
blunderdog's picture

This is cool to see reported, but it's not of any importance, is it?  I mean, one tiny startup fails because it was on the wrong side of a legal argument.

Who cares?  This is just 'cause someone hates Falcone, right?

Mon, 05/14/2012 - 15:01 | 2424558 fonzannoon
fonzannoon's picture

I kind of agree. If the idea is to point out what a joke everything is the spotlight should be put on some of these mining companies that are actually making serious money working with productive assets. Yet they are being treated like a dirty financial with herpes.

Mon, 05/14/2012 - 15:02 | 2424564 Papasmurf
Papasmurf's picture

They were on the wrong side of a technical error.  Was there any intention at the onset to become a growing enterprise?

Mon, 05/14/2012 - 14:57 | 2424546 williambanzai7
williambanzai7's picture

There's even a pyramid

Mon, 05/14/2012 - 15:00 | 2424563 firstdivision
firstdivision's picture

Wilbur is looking for a new home, but must have a Cameron & Son's baby grand piano.  He would also prefer to go to a vegetarian home.

Mon, 05/14/2012 - 15:03 | 2424567 g3h
g3h's picture

Love these 1.4 and 1.6 hierarchy concention.  That means at least someone got a since degree somewhere.  Maybe he even got a cum laude for a Rube Goldberg machine design.

Mon, 05/14/2012 - 15:09 | 2424587 orangegeek
orangegeek's picture

Recession is over.  Time for growth.



Mon, 05/14/2012 - 15:18 | 2424613 LongSoupLine
LongSoupLine's picture

Good thing Falcone knows of a tool at Home Depot that can fix all of it.

Mon, 05/14/2012 - 15:24 | 2424633 Scalaris
Scalaris's picture

Now that's what I call a straightforward structure.

Mon, 05/14/2012 - 15:25 | 2424637 klinkerphish
klinkerphish's picture

Light Squared was not rail roaded! These fucktards thought they could become a 100% wireless broadband ISP provider. This would have been accomplished by  hijacking the frequencies of all domestic GPS devices. If the FCC let these guys continue it would have meant GPS for the military, civilian, and commercial would have been rendered essentially useless. Falcone deserves everything he gets for not doing his due dilligence before forking out massive amounts of cash. 

That is all

Mon, 05/14/2012 - 15:34 | 2424668 amarshall
amarshall's picture

I logged in for the first time in months to like this comment.

Mon, 05/14/2012 - 15:50 | 2424725 blunderdog
blunderdog's picture

So you're fully bought-in on the mainstream story, eh?

Mon, 05/14/2012 - 16:16 | 2424783 klinkerphish
klinkerphish's picture

I'm bought-in based on the fact that I work with GPS technology all day long. I don't think for a minute that the major ISP jerk-offs didn't fight this tooth and nail for there own survival I mean profits. However, I do know that the military would be pissed that there ability to lay a j-dam through your front window might be deminished severely due to frequency disturbance. Duh! It was done under the guise of national security which is a whole different topic for a different blog. 

Mon, 05/14/2012 - 17:27 | 2425011 indio007
indio007's picture

Since when is the US military dropping JDAMS in the US?


What you are saying is all Iraq had to do was build a wireless ISP and would have defeated the US airforce?

Gimme a break.

Mon, 05/14/2012 - 17:53 | 2425083 blunderdog
blunderdog's picture

   However, I do know that the military would be pissed that there ability to lay a j-dam through your front window might be deminished severely due to frequency disturbance.

This is exactly my point.  There's a distinction I'd draw between "might be" and "will be."

It was a legal battle, nothing else.  We don't know what the results would've been because there's no transparency.

Mon, 05/14/2012 - 16:12 | 2424787 Quantum Nucleonics
Quantum Nucleonics's picture

Bzzzz, wrong.  That's the mainstream explanation.

The reality is that the GPS industry, in order to cut costs, designed their systems with ridiculously low power signals.  They did so knowing that any use of adjacent bandwidth would overwhelm their low power signal.  It was the GPS industry that effectively stole all the adjacent spectrum.  They knew once their products were well entrenched, lobbying to prevent use of adjacent spectrum would be easy, especially with the military on board.  The weak signals are the reason GPS is so easy to jam.  Military is desperately incorporating sophisticated signal processing systems and antenna arrays to defeat jamming systems, but that's impossible at this point for the small handheld consumer market.

Mon, 05/14/2012 - 16:26 | 2424842 klinkerphish
klinkerphish's picture

My understanding behind the power signal being at such a low frequency is this: 

In order to be able to offer GPS equipment that didn't require you to head out into the field with 4 car batteries strapped to your back the industry realized they had to communicate at lower frequencies. So early on they decided to develop GPS in the frequency range they did. This has been a problem for the military since day one and a whole sub-industry has developed to encrypt military grade gps-signals. Some of you guys try so hard to see a conspiracy in everything... 


Tue, 05/15/2012 - 01:13 | 2425937 TheLizard
TheLizard's picture

The GPS signals being at the frequencies they are at is not really due to power consumption concerns. There are certain frequency ranges that propagate excellently through Earth's atmosphere; that's why GPS uses them. NASA and Weather satellites do the same thing. 

Mon, 05/14/2012 - 20:31 | 2425343 Ident 7777 economy
Ident 7777 economy's picture



Assjack - the filters required ahead of the receiver would have been as big as most GPS units, stupid.


Don't know physics much, do you?


 Don't much abour RF path losses, power budgets and the like ... figures ... just another business type who THINKS he knows engineering ...






Tue, 05/15/2012 - 01:09 | 2425932 TheLizard
TheLizard's picture

And here's the technical explanation:


GPS didn't "effectively steal" anything. The adjacent spectrum band to GPS that LightSquared leased was originally intended for low-power satellite downlinks back in the 1990s. Then it was sold off with the intention that the buyer would use it for commercial satellite service of some sort. LightSquared got ahold of it and had the brilliant idea to convert their spectrum from a satellite-based network to a high-power terrestrial network (it is assumed that the FCC helped them do this--i.e. they were bought).


GPS receivers were never designed to tolerate extremely high power signals right next door, because there never were any until LightSquared tried and failed. They came close to being successful and it took the military and commercial aviation industry (to name a few) by complete surprise.

Mon, 05/14/2012 - 15:36 | 2424675 Vince Clortho
Vince Clortho's picture

This is either:

1.  Bullish, or

2.  Another reason to launch QEn


Not sure which.

Mon, 05/14/2012 - 16:14 | 2424804 Quantum Nucleonics
Quantum Nucleonics's picture

I'm going to guess that the spectrum rights and everything else of value is hiding in one of the grey boxes, out of the reach of creditors.

Mon, 05/14/2012 - 17:28 | 2425016 indio007
indio007's picture

Lightsquared was on the correct legal side. They got screwed plain and simple. FCC is a political body. Look on your GPS it says this device MUST accept interference. I didn't see an "except from lightsquared".

Mon, 05/14/2012 - 20:35 | 2425348 Ident 7777 economy
Ident 7777 economy's picture



That 'reference' is for Part 15 compliance, business-type; it is standard wording found on all electronic appliances.


(Another assjack who thinks he knows the engineering issues that were at hand and sinply picks 'Lightsqared' on the basis of that ignorance.)




Also see your gardner for any brain surgery you might be needing in the furture, because a doctor or an engineer you ain't ...

Tue, 05/15/2012 - 16:15 | 2428767 indio007
indio007's picture

Last thing I knew engineers don't determine legal issues. My opinion is based on their legal brief  (complaint) in their suit against the FCC.

It's rock solid.

FCC , hands down, loses more lawsuits than any other gov't agency.

The FCC will lose this one. GPS must accept interference if it does not have a license. Which of course they don't.

Don't try and muddle your engineering opinion about who is to blame about functionality and/or losing it.

This  is an issue of rights.

Mon, 05/14/2012 - 22:59 | 2425695 spooncutter
spooncutter's picture

that chart looks like charles II's family tree

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